White House Press Secretary Karoline Leavitt told Fox News that the recent US-China trade agreement marks “an extraordinary first step in the right direction.”
She noted that China has agreed to “continue discussions” on expanding access for U.S. products and to “seriously address the devastating impact of Chinese-produced fentanyl” in the United States.
“President Trump will keep negotiating with China in hopes of eventually reaching a fair, comprehensive, and major trade deal,” Leavitt added.
US-China deal propels shipping companies full steam ahead.
This weekend’s trade deal between the US and China is proving to be a major boost for shipping companies.
With roughly 90% of global trade transported by sea—including goods like clothing, toys, furniture, and vehicles—the easing of tariffs is seen as a positive turning point. The earlier surge in tariffs had sharply reduced shipping volumes across the Pacific, but investors now anticipate a rebound, translating into higher profits for the industry.
Only two of the world’s five largest shipping firms are publicly traded, and both are seeing strong gains. Five hours into the European trading day, Denmark’s Maersk is up more than 11.5%, while Germany’s Hapag-Lloyd has surged over 13.5%.
Both companies have welcomed the deal. Maersk stated, “We hope it can lay the foundation for the parties to also reach a permanent deal that can create the long-term predictability our customers need.”
Hapag-Lloyd, for its part, expects a rise in bookings on routes from China to the US and may deploy larger vessels than originally planned to meet growing demand.
US Tariff Truce Signals Shift Toward Negotiation-Driven Trade Strategy
That’s the question on many minds this morning as the world reacts to the truce between the US and China—the two largest economies on the planet.
Economists at Deutsche Bank believe the recent easing of tariffs, along with last week’s UK-US agreement, signals that there may now be a “likely cap and floor” for Trump’s tariff strategy, ranging between 10% and 30%.
“The UK, which has one of the most balanced trade relationships with the US, now faces a universal tariff rate of 10%. China, with one of the most imbalanced relationships, is at 30%,” explained George Saravelos, head of FX research at Deutsche Bank.
He added, “It’s reasonable to assume these figures now define the range where US tariffs are likely to settle this year—offering significantly more clarity than we had just a week ago.”
